The blockchain division will be led by Shivakumar Venkataraman, an engineering vice president for Google. The division will focus on blockchain and other distributed computing and data storage technologies, according to an email obtained by Bloomberg.
The new blockchain division will be directed to the experimentation with the decentralized technologies under the umbrella of the Labs group. Labs is an experimental division that groups all the AR and VR efforts, and other potential projects in the tech area. The new Google Labs group also includes an in-house incubator for projects called Area 120.
Google has also completed a partnership with Coinbase and Bitpay, two cryptocurrency exchanges, to include allowing customers to store cryptocurrency in digital cards. However, the company is still not accepting cryptocurrency transactions. Also, in 2021, the company also inked a partnership with Bakkt, a digital platform, to allow users to spend cryptocurrencies using its card on the Google Pay platform.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now